Business
SCYNEXIS Provides Corporate, Commercial and R&D Strategy Updates to Expand Market Potential for Its First-in-Class Antifungal
SCYNEXIS is announcing a new strategic direction to refocus its resources on the clinical development of ibrexafungerp for severe, hospital-based indications
About this update from Scynexis, Inc.
[{"type":"text","content":"SCYNEXIS is announcing a new strategic direction to refocus its resources on the clinical development of ibrexafungerp for severe, hospital-based indications in which higher long-term returns are expected, given the promising data generated to date in refractory fungal infections, including Candida auris, and the anticipated first approval in the hospital setting in 2024.Company intends to out-license BREXAFEMME® (ibrexafungerp tablets) for vulvovaginal candidiasis (VVC) and is actively pursuing a U.S. commercialization partner that can build on the positive momentum to date and maximize its commercial value. During this process, SCYNEXIS will wind down its promotional activities, while keeping BREXAFEMME on the market and available to patients.SCYNEXIS will conclude the partnership with its contracted commercial sales partner, Amplity Health, and will undertake a workforce reduction. The resulting resources will be redirected to the hospital program and will extend cash runway into Q2 2024.SCYNEXIS is announcing changes to its executive leadership team: Marco Taglietti, M.D., President and Chief Executive Officer of SCYNEXIS, will retire as of December 31, 2022.David Angulo, M.D., Chief Medical Officer since 2015, will become President and Chief Executive Officer, effective January 1, 2023.Ivor Macleod will join SCYNEXIS as Chief Financial Officer on October 24.Christine Coyne, Chief Commercial Officer, will transition from the Company to pursue other opportunities. An investor conference call will be held today, October 20, at 8:30 a.m. EDT. JERSEY CITY, N.J., Oct. 20, 2022 (GLOBE NEWSWIRE) -- SCYNEXIS, Inc. (NASDAQ: SCYX), a biotechnology company pioneering innovative medicines to overcome and prevent difficult-to-treat and drug-resistant infections, today announced a new corporate strategic direction expected to provide higher long-term return by refocusing its resources on the clinical development of ibrexafungerp for severe, hospital-based indications with both the oral and liposomal intravenous (IV) formulations, as multiple ongoing Phase 3 studies are progressing for a potential first approval in hospital indications in 2024 and a Phase 2 study of the IV formulation is planned for 2023. SCYNEXIS intends to out-license BREXAFEMME® (ibrexafungerp tablets) for vulvovaginal candidiasis (VVC) and is actively pursuing a U.S. c...